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TSX Adopts Amendments Relating to Security Based Compensation Arrangements and Backdoor Listings

Posted by: · October 1st, 2014

Further to our article dated December 20, 2013 entitled TSX publishes proposed amendments to Stock Exchange Company Manual, the Toronto Stock Exchange (the “TSX”) has recently announced that it has adopted, and the Ontario Securities Commission has approved, amendments to Part VI – Changes in Capital Structure of Listed Issuers of the TSX Company Manual (the “Manual”) which become effective today, October 1, 2014. The amendments relate to the adoption…

TSX publishes amendments to TSX Company Manual in relation to director election requirements

Posted by: · February 13th, 2014

The Toronto Stock Exchange (“TSX”) has published amendments to the TSX Company Manual in relation to director elections (the “Amendments”). Visit the TSX website to view the Notice of Approval of the Amendments. The Amendments require each director of a TSX listed issuer, other than a listed issuer that is majority controlled (as defined in the Amendments), to be elected by a majority of the votes cast with respect to…

TSX publishes proposed amendments to Stock Exchange Company Manual

Posted by: · December 20th, 2013

On November 28, 2013, the Toronto Stock Exchange (the “TSX”) published proposed amendments (the “Amendments”) to the TSX Company Manual (the “Manual”) relating to the adoption of security-based compensation arrangements in the context of acquisitions and the criteria considered by the TSX in determining whether a transaction is a backdoor listing. The Amendments are open to comments up to January 13, 2014. The Amendments will become effective following the comment period and…

TSX Issues Staff Notice in Respect of Director Election Requirements

Posted by: · July 22nd, 2013

The Toronto Stock Exchange (“TSX”) released a Staff Notice on July 10, 2013 providing guidance in respect of the director election requirements (the “Requirements”) in sections 461.1 to 461.4 of the TSX Company Manual (the “Manual”) which came into force on December 31, 2012. Please see our original post on the amendments. The Staff Notice provides guidance regarding: the application of the Requirements to Interlisted International Issuers applying to list on the TSX;…

TSX Adopts Changes to Director Elections and Proposes Majority Voting

Posted by: · February 1st, 2013

The Toronto Stock Exchange (the “TSX”) has adopted certain amendments to provisions of the TSX Company Manual relating to the election of directors. These amendments (the “New Rules”) became effective on December 31, 2012 (the “Effective Date”). The TSX also published for comment additional proposed amendments which will make majority voting mandatory (the “Proposed Amendments”). The TSX issued a Staff Notice in July 2013 providing guidance on the new rules. See our post…


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